50 luxury flats in Dubai have been bought for bitcoin

Multi-billionaire Doug Barrowman and designer Michelle Mont sold 50 properties in Dubai on the territory of the Science Park for crypto currency for one month. This is the first case of real estate sales in the UAE for bitcoins.

Prices range from studio apartments for $130,000 — currently about 15 bitcoins — to two-bedroom apartments priced at $380,000, or about 45 bitcoins.

Barrowman noted to the press that the bitcoin initiative has been a smashing success thus far. He said: “We allocated 50 out of 1,300 developments. We’ve sold all out. Some bought ones and twos, and one individual bought 10”.

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